5 tips to save money on your next appliance purchase

When you buy a home, one benefit of the deal is you typically get to keep the appliances because many of them are considered fixtures in the homes.

However, if the previous owners had those appliances for some time, you may have to replace the devices sooner rather than later, which can be costly. Not only can appliances be cumbersome in size, but they are also some of the most expensive items you'll have in your home.

And when key appliances such as your fridge decide to unexpectedly suffer irreparable damages, you'll have to foot the bill without delay.

If you want to offset some of your costs, follow these five tips:

  1. Look for superficial damage. When purchasing appliances that have been on a sales floor for a while, looks aren't everything - especially when it comes to small dents, scratches and dings. While these scuffs and marks may not be physically appealing, they usually don't have any effect on how well the machine works. Plus, these small damages can lead to considerable discounts. Although most people are turned off by superficial marks, keep more money in your checking account and slap a fridge magnet over any tiny scrapes.
  2. Comparison shop for price match savings. Many retailers are willing to match the price of a competitor to ensure they get your business. Before heading out to buy an appliance, shop around online to find which retailer has the best price. Then, head to your favorite store or the one that offers the best incentives and get a price match.
  3. Look for holiday sales. Retailers like to offer huge sales for big holidays - and not just Christmas. Keep an eye out for President's Day, Veteran's Day and other sales that accompany major holidays.
  4. Old is as good as new. In the same way older car models have lower prices once the new year model comes out, you can get discounts on appliances once the new style is available. Retailers need to clear out their old inventory to make room for the latest editions. Capitalize on this situation and haggle if possible.
  5. Don't go overboard. Did you know certain fridge models let you access the Internet via a built-in screen? As cool as this feature may sound, you must ask yourself if it's something you need. One of the easiest ways to save money on appliances is to rein in your wants and focus on the essential function of the devices you need. If the dryer can dry clothes and the dishwasher can wash dishes, isn't that good enough?

For more information about smart ways to manage your finances, contact Landmark Bank.

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